DCG’s CoinDesk receives buyout interest; exploring partial or full sale

Cryptocurrency news company Coindesk is seeking a buyer through investment bankers, The Wall Street Journal reported Jan. 18.

Coindesk CEO Kevin Worth told the Journal that his company has “received numerous inbound indications of interest” in recent months.

Worth did not indicate which companies are interested in buying Coindesk. However, he told the news outlet that Coindesk has engaged the financial management firm Lazard to explore a potential transaction.

The CEO also told the Journal that Coindesk could pursue a full or partial sale, meaning that DCG may not lose complete ownership of the company.

Last November, Semafor reported that several buyers — including investment firms and rival news sites — were interested in purchasing CoinDesk for upwards of $300 million.

Coindesk is currently owned by Digital Currency Group (DCG), which acquired the company in 2016 for $500,000-$600,000. Digital Currency Group also owns the troubled cryptocurrency company Genesis and several other subsidiaries.

Journalist at CryptoSlate

Mike trained in library and information sciences before moving into crypto writing in 2018. He lives on the West Coast of Canada.